District of West Vancouver is extending the public consultation period for a below market housing development aimed at district employees, and moderate income people.
West Vancouver citizens can now give their feedback on the Gordon Avenue project until Monday, April 15, until 4:30 pm.
West Vancouver purchased the 1.76 acres site at 2195 Gordon Avenue for $16 million.
Located north of the West Vancouver Community Centre, the district plans to either sell it to a developer or offer it for long term lease to a third party who would construct the buildings and operate the rental component.
The overarching plan is create housing, increase rental supply and improve affordability while generating $20 million in revenue, and with no ongoing cost to the District.
The District is proposing to use this property to create:
- 170 below market rental units to be operated by an independent third party with no ongoing cost to the District
- rents at an average of 70% of market rent for comparable new units in West Vancouver, that are income targeted for moderate-income people, including families with children in West Vancouver schools, and moderate-income people who work in West Vancouver
- 30 strata condominium units
- a range of units from studios to 1, 2 and 3 bedroom units
- $20 million in revenue (to recover the initial purchase price of $16 million plus a reasonable return)
Staff has been conducting public consultation on the District’s proposal for its site at 2195 Gordon Avenue since early February, and plans to report back on its findings around late April or early May.